Dipo Olowookere
By Dipo Olowookere
The stock market in Nigeria was relatively busy last week as investors showed a renewed interest in the market, resulting in the 2.95 per cent week-on-week growth posted at the close of transactions last Friday.
In the week, the All-Share Index and market capitalisation of the Nigerian Exchange (NGX) Limited closed higher at 43,253.01 points and N22.572 trillion respectively.
Similarly, all other indices finished higher with the exception of banking, insurance, NGX-AFR Bank Value, NGX AFR Div Yield, NGX MERI Growth, energy and industrial goods indices, which depreciated by 1.13 per cent, 2.25 per cent, 1.83 per cent, 0.44 per cent, 0.80 per cent, 0.69 per cent and 0.01 per cent respectively, while the ASeM, growth and sovereign bond indices closed flat.
However, the price movement chart showed that there were 27 appreciating stocks, higher than 23 of the previous week, while there were 36 depreciating shares, lower than 43 in the previous week, with 93 equities trading flat, higher than 90 of the earlier trading week.
Neimeth was the highest price gainer in the week, rising by 12.50 per cent to N1.98 and was trailed by Red Star Express, which grew by 12.18 per cent to N3.50.
Airtel Africa appreciated by 11.75 per cent to trade at N871.70, FTN Cocoa gained 10.00 per cent to sell for 44 kobo, while Veritas Kapital jumped by 9.52 per cent to quote at 23 kobo.
The heaviest price loser, according to data obtained by Business Post, was Conoil as its share price depleted by 14.90 per cent to N21.70.
Pharma Deko dropped 9.83 per cent to N2.11, CWG declined by 9.73 per cent to N1.02, Berger Paints depleted by 9.52 per cent to N8.55, while Custodian Investment declined by 9.47 per cent to N7.65.
At the close of transactions for the week, which had five trading sessions, investors bought and sold 1.5 billion shares worth N20.9 billion in 20,410 deals as against the 1.4 billion shares valued at N12.4 billion traded in 23,987 deals the preceding week.
Financial stocks led the activity chart with 996.6 million units worth N10.279 billion in 10,565 deals, accounting for 67.74 per cent and 49.09 per cent of the total equity turnover volume and value respectively.
The second place was occupied by conglomerates equities with a turnover of 203.3 million units worth N1.2 billion in 834 deals, while consumer goods shares claimed the third place with the sale of 105.4 million units valued at N3.2 billion transacted in 2,789 deals.
The trio of FBN Holdings, Sterling Bank and UACN were the most active stocks in the week with 519.0 million units sold for N4.1 billion in 1,787 deals, contributing 35.28 per cent and 19.37 per cent to the total trading volume and value respectively.
